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Buffett’s Berkshire reduces buybacks amid stock-purchasing spree



Warren Buffett dialed again on share repurchases within the second quarter as his conglomerate put its money stockpile to work shopping for up stakes in different firms.

  • The billionaire’s Berkshire Hathaway Inc. repurchased $1 billion of shares throughout the second quarter, lower than the $3.2 billion it purchased again throughout the first three months of 2022. Buffett has turned to inventory buybacks as one method to deploy billions of {dollars} in money and return some extra funds to shareholders. Berkshire’s inventory has gotten cheaper amid a normal downturn in markets, with the Class A shares falling practically 23% throughout the quarter.

key insights

  • Berkshire barely made a dent in its money hoard, reporting $105.4 billion in comparison with the $106 billion on the finish of March.
  • Berkshire swung to a lack of $43.8 billion within the second quarter, with the corporate shedding $53 billion on its funding portfolio amid a market route.
  • Auto insurer Geico reported an underwriting lack of $487 million, as inflation and better used-car costs makes it costlier to repair and change broken autos.

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